Market Size of Europe Cashew Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.63 Billion |
| Market Size (2029) | USD 2.03 Billion |
| CAGR (2024 - 2029) | 4.48 % |
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Europe Cashew Market Analysis
The Europe Cashew Market size is estimated at USD 1.63 billion in 2024, and is expected to reach USD 2.03 billion by 2029, growing at a CAGR of 4.48% during the forecast period (2024-2029).
- The cashew market in European countries is expected to register stable growth. The demand for cashew nuts is growing continuously at 3 - 4% annually, making cashew the cheapest tree nut in the region. This expansion is anticipated to be driven by changes in European consumers' eating patterns, such as increased demand for healthy snacking options and veggie protein sources. As cashews are rich in nutritional content, they are most preferred by health-conscious customers.
- Along with this, the usage of cashews in different snack products is increasing the demand for cashews. The major food companies are also launching snack products with the cashew nut, pushing the market. For instance, Chocomel launched a new drink in a plant-based variant. The variant is made from cashew nuts and peas. These types of launches will cater to the development of the market.
- Moreover, Europe entirely depends on cashew imports with zero domestic production. Most of the regional demand is generated by countries like the Netherlands, the United Kingdom, France, Germany, Spain, and Italy. This region's primary cashew market drivers are the nut's nutrient content and the demand for ready-to-eat snacks. Therefore, the increasing demand for healthy and ready-to-eat snacks coupled with the food product launches containing cashew for nuts is pushing the market in the region during the forecast period.
